KB Home (NYSE:KBH) Shares Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS increased its stake in shares of KB Home (NYSE:KBH - Free Report) by 28.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,900 shares of the construction company's stock after acquiring an additional 23,100 shares during the period. KLP Kapitalforvaltning AS owned about 0.14% of KB Home worth $6,039,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. raised its holdings in shares of KB Home by 73.7% during the first quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock worth $35,000 after acquiring an additional 258 shares during the period. Sachetta LLC raised its holdings in shares of KB Home by 3,142.9% during the first quarter. Sachetta LLC now owns 681 shares of the construction company's stock worth $40,000 after acquiring an additional 660 shares during the period. Byrne Asset Management LLC raised its holdings in shares of KB Home by 51.8% during the first quarter. Byrne Asset Management LLC now owns 774 shares of the construction company's stock worth $45,000 after acquiring an additional 264 shares during the period. UMB Bank n.a. raised its holdings in shares of KB Home by 1,256.9% during the first quarter. UMB Bank n.a. now owns 977 shares of the construction company's stock worth $57,000 after acquiring an additional 905 shares during the period. Finally, Reyes Financial Architecture Inc. raised its holdings in shares of KB Home by 35.6% during the first quarter. Reyes Financial Architecture Inc. now owns 990 shares of the construction company's stock worth $58,000 after acquiring an additional 260 shares during the period. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KBH has been the topic of several recent research reports. Wells Fargo & Company reiterated an "underweight" rating and issued a $52.00 price target (down from $53.00) on shares of KB Home in a research note on Tuesday, June 24th. Wall Street Zen raised shares of KB Home from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Barclays set a $49.00 target price on shares of KB Home and gave the stock an "equal weight" rating in a report on Tuesday, June 24th. Bank of America cut their price objective on shares of KB Home from $58.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, June 24th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of KB Home from $65.00 to $58.00 and set a "market perform" rating for the company in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $66.14.

KB Home Stock Performance

Shares of KBH traded down $0.20 on Monday, reaching $56.66. The company's stock had a trading volume of 255,103 shares, compared to its average volume of 1,496,526. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.83 and a quick ratio of 0.60. The stock has a market capitalization of $3.86 billion, a P/E ratio of 7.52, a PEG ratio of 4.57 and a beta of 1.34. The stock's 50 day simple moving average is $53.44 and its two-hundred day simple moving average is $57.60. KB Home has a 12-month low of $48.90 and a 12-month high of $89.70.

KB Home (NYSE:KBH - Get Free Report) last issued its quarterly earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.05. KB Home had a net margin of 8.47% and a return on equity of 14.02%. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the firm earned $2.15 earnings per share. The company's revenue for the quarter was down 10.5% on a year-over-year basis. Research analysts forecast that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Thursday, August 7th. KB Home's payout ratio is currently 13.25%.

Insider Activity at KB Home

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total transaction of $749,280.00. Following the transaction, the chief operating officer owned 78,345 shares in the company, valued at $4,193,024.40. The trade was a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Arthur Reginald Collins sold 5,000 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $54.38, for a total transaction of $271,900.00. Following the sale, the director directly owned 10,262 shares of the company's stock, valued at $558,047.56. This represents a 32.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.89% of the company's stock.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.